CLOD vs. USRD

Last updated Jun 4, 2026

CLOD (Themes Cloud Computing ETF) and USRD (Themes US R&D Champions ETF) are both exchange-traded funds - CLOD is a Technology Equities fund tracking the Solactive Cloud Technology Index, while USRD is a Large Cap Blend Equities fund tracking the Solactive US R&D Champions Index. Both are passively managed. Over the past year, CLOD returned 2.49% vs 31.55% for USRD. Their correlation of 0.80 suggests significant overlap in exposure. CLOD charges 0.35%/yr vs 0.29%/yr for USRD.

Performance

CLOD vs. USRD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Cloud Computing ETF (CLOD) and Themes US R&D Champions ETF (USRD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLOD achieves a 3.48% return, which is significantly lower than USRD's 19.83% return.

CLOD

• 1D: -3.72%
• 1M: 14.95%
• YTD: 3.48%
• 6M: 1.34%
• 1Y: 2.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USRD

• 1D: -1.22%
• 1M: 13.66%
• YTD: 19.83%
• 6M: 18.09%
• 1Y: 31.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CLOD vs. USRD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLOD Themes Cloud Computing ETF	3.48%	7.53%	21.03%	0.43%
USRD Themes US R&D Champions ETF	19.83%	12.44%	15.53%	1.91%

Correlation

The correlation between CLOD and USRD is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (All Time) Calculated using the full available price history since Dec 18, 2023	0.80

The correlation between CLOD and USRD has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.

CLOD vs. USRD - Sectors Allocation Comparison

Sectors	CLOD	USRD
Technology	75.6%	58.5%
Consumer Cyclical	12.4%	5.4%
Communication Services	11.7%	7.2%
Industrials	1.5%	9.3%
Financial Services	0.3%	-
Basic Materials	-	2.1%
Consumer Defensive	-	1.9%
Energy	-	-
Healthcare	-	14.4%
Real Estate	-	1.1%
Utilities	-	-

Return for Risk

CLOD vs. USRD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CLOD

CLOD Risk / Return Rank: 10
CLOD Sharpe Ratio Rank: 10
CLOD Sortino Ratio Rank: 10
CLOD Omega Ratio Rank: 10
CLOD Calmar Ratio Rank: 10
CLOD Martin Ratio Rank: 10

USRD

USRD Risk / Return Rank: 52
USRD Sharpe Ratio Rank: 56
USRD Sortino Ratio Rank: 55
USRD Omega Ratio Rank: 53
USRD Calmar Ratio Rank: 48
USRD Martin Ratio Rank: 45

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CLOD vs. USRD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Cloud Computing ETF (CLOD) and Themes US R&D Champions ETF (USRD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	CLOD	USRD	Difference
Sharpe ratio: Return per unit of total volatility	0.10	1.89	-1.79
Sortino ratio: Return per unit of downside risk	0.31	2.63	-2.32
Omega ratio: Gain probability vs. loss probability	1.04	1.33	-0.29
Calmar ratio: Return relative to maximum drawdown	0.08	2.35	-2.27
Martin ratio: Return relative to average drawdown	0.17	7.30	-7.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLOD vs. USRD - Sharpe Ratio Comparison

The current CLOD Sharpe Ratio is 0.10, which is lower than the USRD Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of CLOD and USRD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CLOD	USRD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.10	1.89	-1.79
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	1.12	-0.58

Drawdowns

CLOD vs. USRD - Drawdown Comparison

The maximum CLOD drawdown since its inception was -31.36%, which is greater than USRD's maximum drawdown of -23.79%. Use the drawdown chart below to compare losses from any high point for CLOD and USRD.

Drawdown Indicators

	CLOD	USRD	Difference
Max Drawdown Largest peak-to-trough decline	-31.36%	-23.79%	-7.57%
Max Drawdown (1Y) Largest decline over 1 year	-31.36%	-13.49%	-17.87%
Current Drawdown Current decline from peak	-6.61%	-1.22%	-5.39%
Average Drawdown Average peak-to-trough decline	-7.51%	-3.70%	-3.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.29%	4.33%	+9.96%

Volatility

CLOD vs. USRD - Volatility Comparison

Themes Cloud Computing ETF (CLOD) has a higher volatility of 10.13% compared to Themes US R&D Champions ETF (USRD) at 5.55%. This indicates that CLOD's price experiences larger fluctuations and is considered to be riskier than USRD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLOD	USRD	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.13%	5.55%	+4.58%
Volatility (6M) Calculated over the trailing 6-month period	21.71%	13.33%	+8.38%
Volatility (1Y) Calculated over the trailing 1-year period	25.07%	16.79%	+8.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.46%	19.24%	+5.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.46%	19.24%	+5.22%

CLOD vs. USRD - Expense Ratio Comparison

CLOD has a 0.35% expense ratio, which is higher than USRD's 0.29% expense ratio.

Dividends

CLOD vs. USRD - Dividend Comparison

CLOD's dividend yield for the trailing twelve months is around 1.42%, more than USRD's 0.35% yield.

Position	TTM	2025	2024
CLOD Themes Cloud Computing ETF	1.42%	1.47%	0.00%
USRD Themes US R&D Champions ETF	0.35%	0.42%	2.44%

Frequently Asked Questions

Can I hold both CLOD and USRD in my portfolio?

CLOD and USRD have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLOD or USRD?

CLOD has higher volatility (10.13%) compared to USRD (5.55%). In terms of maximum drawdown, CLOD dropped -31.36% vs USRD's -23.79%.

Which ETF is better, CLOD or USRD?

On 1-year performance, USRD leads with 31.55% vs 2.49% for CLOD. On fees, USRD is cheaper at 0.29% per year. On volatility, USRD has been the lower-risk option at 5.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLOD or USRD?

Over the 1-year period, USRD has performed better with a 31.55% return vs 2.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLOD or USRD?

USRD is cheaper with a 0.29% expense ratio, compared with 0.35% for CLOD.

Which ETF pays a higher dividend yield, CLOD or USRD?

CLOD has the higher dividend yield at 1.42%, compared with 0.35% for USRD.

What is the main difference between CLOD and USRD?

CLOD is categorized as Technology Equities, while USRD is Large Cap Blend Equities. CLOD tracks Solactive Cloud Technology Index, while USRD tracks Solactive US R&D Champions Index. Their fees differ too: 0.35% for CLOD and 0.29% for USRD.

Which has better risk-adjusted returns?

USRD currently has the higher Sharpe Ratio (1.89 vs 0.10), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.